| Silver prices declined for 14 sessions in the last 20 trading days | |
| | |
|
Silver is trading in a down trend—poised to test $15.40 per ounce (Part 1 of 2) Silver price action
Silver prices for the April futures contracts settled at $15.77 per ounce on Monday, March 9, 2015. It tested the lows on November 12 and 14, 2014. This was the eighth down day in the last ten days. The average of up days ended 0.50% more than the down days over the last ten trading sessions.
Silver settled at the day’s low
April silver futures settled at the day’s low. Silver prices declined marginally by 0.20% from the last trading day. On March 9, the total volume was at 23,779 contracts. The volume dropped by 20,760 contracts from the last session.
Poor man’s gold
Silver has been declining from the highs of April 2011. Robust US economic conditions, low industrial demand, and a strong dollar led to the massive drop in silver prices.
Last month and this month, silver’s trend is the same as the long-term trend. It remains in a downward trend. The strong dollar is driving silver prices lower. Bearish sentiments and market conditions are weak for silver. The market forecast for silver is also lower. Silver closed marginally lower on March 9, 2015. It was led by the consensus of a Federal Reserve rate hike—due to strong labor data and a strong dollar.
Lower silver prices will impact silver companies like Silvercorp Metals (SVM), Pan American Silver Corp. (PAAS), and Silver Wheaton Corp. (SLW). Lower prices affect silver-focused ETFs like the iShares Silver Trust (SLV) and the ProShares Ultra Silver ETF (AGQ).
Continue to Part 2 Browse this series on Market Realist:
|
|
|
VanEck Vectors Global Alternative Energy ETF
|
|
PRODUCER |
CODE : PAAS |
ISIN : CA6979001089 |
CUSIP : 697900108 |
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Pan American Silver is a silver producing company based in Canada. Pan American Silver produces silver, copper, gold, lead and zinc in Argentina, in Bolivia, in Mexico and in Peru, develops gold and silver in Mexico, and holds various exploration projects in Argentina and in Mexico. Its main assets in production are QUIRUVILCA MINE, HUARON and MOROCOCHA in Peru, LA COLORADA, ALAMO DORADO, LLUVIA DE ORO and DOLORES MINE in Mexico, SAN VICENTE in Bolivia and MANANTIAL ESPEJO in Argentina, its main asset in development is LA PRECIOSA in Mexico and its main exploration properties are ORO BLANCO, EL DURAZNO, SAN ANTONIO ORO BLANCO, SANTA LUCIA, REAL VIEJO, PLANCHAS DE PLATA, LA DURA, LA RESERVA / EL CORREO, LA VIRGINIA GOLD/SILVER, LA CRUZ and LA BOLSA in Mexico, FLAMINGO, ESPEJO, REGALO, NAVIDAD, CALCATREAU, HOG HEAVEN, WATERLOO and LOMA DE LA PLATA (NAVIDAD) in Argentina, RIVER VALLEY PGM in Canada and PICO MACHAY in Peru. Pan American Silver is listed in Canada, in Germany and in United States of America. Its market capitalisation is 997.2 millions as of today (€ 897.0 millions). Its stock quote reached its lowest recent point on November 07, 2008 at 10.01, and its highest recent level on September 19, 2024 at 21.02. Pan American Silver has 47 442 200 shares outstanding. |